Coli & Frit Enterprise

Projected Statement of Comprehensive Income

For the Year Ended December 31, 2019-2023

Notes 2019 2020 2021 2022

Sales 1 923,076.00 1,827,690.48 2,110,982.50 2,438,184.79
Less: Cost of Goods Sold 2 1,066,177.73 1,851,049.92 1,927,175.01 2,003,080.60
Gross Profit -143,101.73 -23,359.44 183,807.49 435,104.19
Less: Operating Expense 3 11,287.38 9,754.97 1,399.17 1,119.34
Net Income Before Tax -154,389.10 -33,114.41 182,408.32 433,984.85
Less: Income Tax (30%) -46316.7305005 -9934.323402 54722.49617 130195.4547
Net Income -108,072.37 -23,180.09 127,685.82 303,789.39
 2023
2,816,103.44
2,088,483.91
727,619.52
895.47
726,724.05
218017.2153
508,706.84
Note 1: Net Sales Schedule 2019 2020
Gross Sales 1 924,000.00 1,829,520.00
Less: Total Spoilage 2 924.00 1829.52
Total Sales 923,076.00 1,827,690.48

Note 2: Cost of Goods Sold Schedule 2019 2020

Direct Materials 3 667,167.90 1,212,339.38
Labor Cost 4 195,300.00 334,800.00
Factory Overhead 5 203,709.83 303,910.54
Total Cost of Goods Sold 1,066,177.73 1,851,049.92

Note 3: Operating Expenses Schedule 2019 2020

Selling and Advertising Expenses 6 2,061.21 1,748.97
Permit License Expenses 7 5,170.17 8,006.00
Feasibility Expenses 8 4,056.00 -
Total Operating Expenses 11,287.38 9,754.97
 2021 2022 2023
2,113,095.60 2,440,625.42 2,818,922.36
2113.10 2440.63 2818.92
2,110,982.50 2,438,184.79 2,816,103.44

2021 2022 2023

1,285,079.75 1,362,184.53 1,443,915.60
334,800.00 334,800.00 334,800.00
307,295.26 306,096.07 309,768.31
1,927,175.01 2,003,080.60 2,088,483.91

2021 2022 2023

1,399.17 1,119.34 895.47
0.00 0.00 0.00
- - -
1,399.17 1,119.34 895.47
Schedule 1: Gross Sales Reference 2019 2020
Product 1:
Servings Produced per Day 50 55
Multiply by: Number of Working Days 210 360
Total Annual Servings Produced 10500 19800
Multiply by: Selling Price of Product 1 1 60.00 63.00
Total Sales of Product 1 630,000.00 1,247,400.00

Product 2:
Servings Produced per Day 50 55
Multiply by: Number of Working Days 210 360
Total Annual Servings Produced 10500 19800
Multiply by: Selling Price of Product 2 2 28.00 29.40
Total Sales of Product 2 294,000.00 582,120.00

Total Sales of Product 1 630,000.00 1,247,400.00

Total Sales of Product 2 294,000.00 582,120.00
Gross Sales 924,000.00 1,829,520.00

Schedule 2: Spoilage Reference 2019 2020

Product 1:
Annual Production in Servings 10500 19800
Multiply by: Percentage of Spoilage 0.001 0.001
Spoilage per Servings 11 20
Multiply by: Selling Price of Product 1 1 60.00 63.00
Spoilage of Product 1 630.00 1,247.40

Product 2:
Annual Production in Servings 10500 19800
Multiply by: Percentage of Spoilage 0.001 0.001
Spoilage per Servings 11 20
Multiply by: Selling Price of Product 2 2 28.00 29.40
Spoilage of Product 2 294.00 582.12

Spoilage of Product 1 630.00 1,247.40

Spoilage of Product 2 294.00 582.12
Total Spoilage 924.00 1,829.52

Schedule 3: Direct Raw Materials Reference 2019 2020

Broccoli 168,000.00 305,280.00
Eggs 73,500.00 133,560.00
Bread Crumbs 50,715.00 92,156.40
Cheese 106,008.00 192,631.68
Onion Leeks 25,200.00 45,792.00
All-Purpose Flour 73,500.00 133,560.00
Ground Pork 63,000.00 114,480.00
Garlic Powder 20,947.50 38,064.60
Italian Seasoning 20,580.00 37,396.80
Salt 2,444.40 4,441.82
Ground Pepper 2,100.00 3,816.00
Vegetable Oil 50,148.00 91,126.08
Del Monte Sweet Blend Ketchup 11,025.00 20,034.00
Total Direct Raw Materials 667,167.90 1,212,339.38

Schedule 4: Labor Cost Reference 2019 2020

Daily Wage 310 310
Multiply by: No. of working days in a month 30 30
Monthly Salary per employees 9,300.00 9,300.00
Multiply by: No. of employees 3 3
Total Monthly Salary 27,900.00 27,900.00
Multiply by: No. of months in a year 7 12
Annual salaries of employees 195,300.00 334,800.00
Add: Employee benefits 3
SSS 3,937.50 3,937.50
Philhealth 2,887.50 2,887.50
Pag-ibig 3,906.00 3,906.00
13th Month Pay 16,275.00 16,275.00
Total Labor Cost 222,306.00 361,806.00

Schedule 5: Factory Overhead Reference 2019 2020

Indirect Materials 4 68,407.50 99,508.50
Rent Expenses 5 105,000.00 180,450.00
Utilities Expenses 6 18,550.70 18,736.21
Tools and Implements 7 4,110.50 588.00
Production Supplies 8 4,125.50 560.70
Cleaning Supplies 10 1,630.56 1,765.38
Depreciation Expense-Equipment 11 583.27 999.95
Depreciation Expense-Furniture and Fixtures 12 1,301.80 1,301.80
Total Factory Overhead 203,709.83 303,910.54

Schedule 6: Selling and Advertising Expenses Reference 2019 2020

Office Supplies 9 1,886.21 1508.97
Posters 116.67 160
Flyers 58.33 80
Total Selling and Advertising Expenses 2,061.21 1,748.97
**** Schedule 7: Taxes and Licenses Reference 2019 2020
Autentication Fees 58.33 100.00
Barangay business clearances 291.67 500.00
Certificate/Clearances 145.83 250.00
Business establishment inspection fee 116.67 200.00
Initial Tax (0.5% of initial investment) 1,050.00 1,050.00
Secretary’s fee 116.67 200.00
Mayor’s permit 116.67 200.00
Tax clearance 58.33 100.00
Sanitary business fee 58.33 100.00
Cedula 3.50 6.00
Business plate 150.00 150.00
Certification fee 58.33 100.00
Notarization 291.67 500.00
Registration 583.33 1,000.00
Documentary stamp 29.17 50.00
Processing fee for business name 1,589.58 2,725.00
Verification and reservation of name 72.92 125.00
Certification fee 58.33 100.00
Registration 291.67 500.00
Book 29.17 50.00
Total Tax and Licenses 5,170.17 8,006.00

Schedule 8: Feasibility Expenses Reference 2019 2020

Printing Expenses 2,000.00 -
Photocopy 250.00 -
Product Sample 615.00 -
Expandable Envelope 86.00 -
Transportation Expenses 180.00 -
Book Bind 500.00 -
Tokens 250.00 -
Snacks 150.00 -
Others 25.00 -
Total Feasibility Expenses 4,056.00 -
 2021 2022 2023

61 67 73
360 360 360
21780 23958 26354
66.15 69.46 72.93
1,440,747.00 1,664,062.79 1,921,992.52

61 67 73
360 360 360
21780 23958 26354
30.87 32.41 34.03
672,348.60 776,562.63 896,929.84

1,440,747.00 1,664,062.79 1,921,992.52

672,348.60 776,562.63 896,929.84
2,113,095.60 2,440,625.42 2,818,922.36

2021 2022 2023

21780 23958 26354

0.001 0.001 0.001
22 24 26
66.15 69.46 72.93
1,440.75 1,664.06 1,921.99

21780 23958 26354

0.001 0.001 0.001
22 24 26
30.87 32.41 34.03
672.35 776.56 896.93

1,440.75 1,664.06 1,921.99

672.35 776.56 896.93
2,113.10 2,440.63 2,818.92

2021 2022 2023

323,596.80 343,012.61 363,593.36
141,573.60 150,068.02 159,072.10
97,685.78 103,546.93 109,759.75
 204,189.58 216,440.96 229,427.41
48,539.52 51,451.89 54,539.00
141,573.60 150,068.02 159,072.10
121,348.80 128,629.73 136,347.51
40,348.48 42,769.38 45,335.55
39,640.61 42,019.04 44,540.19
4,708.33 4,990.83 5,290.28
4,044.96 4,287.66 4,544.92
96,593.64 102,389.26 108,532.62
21,236.04 22,510.20 23,860.81
1,285,079.75 1,362,184.53 1,443,915.60

2021 2022 2023

310 310 310
30 30 30
9,300.00 9,300.00 9,300.00
3 3 3
27,900.00 27,900.00 27,900.00
12 12 12
334,800.00 334,800.00 334,800.00

3,937.50 3,937.50 3,937.50

2,887.50 2,887.50 2,887.50
3,906.00 3,906.00 3,906.00
16,275.00 16,275.00 16,275.00
361,806.00 361,806.00 361,806.00

2021 2022 2023

99,862.88 100,234.97 100,625.67
180,901.13 181,353.38 181,806.76
18,923.57 19,112.80 19,303.93
817.78 648.27 901.60
1,718.33 560.70 1,836.98
2,769.84 1,884.20 2,991.61
999.95 999.95 999.95
1,301.80 1,301.80 1,301.80
307,295.26 306,096.07 309,768.31

2021 2022 2023

1207.17 965.74 772.59
128 102.4 81.92
64 51.2 40.96
1,399.17 1,119.34 895.47
2021 2022 2023

0.00 0.00 0.00

2021 2022 2023

- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
Reference 1: Price of Product 1 2019
Selling Price per Serving 60.00
Multiply by: Percentage of Increase (5%) 0.00
Increase in Selling Price 0.00
Add: Cost per Serving 60.00
Selling Price 60.00

Reference 2: Price of Product 2 2019

Selling Price per Serving 28.00
Multiply by: Percentage of Increase (5%) 0.00
Increase in Selling Price 0.00
Add: Cost per Serving 28.00
Selling Price 28.00

Reference 3: Employee Benefits 2019

SSS
Monthly Contributions 562.50
Multiply by: No. of months 7
Annual Contribution 3937.5
Multiply by: No. of employees 3
Total Annyal SSS Contribution 11812.5

Philhealth
Monthly Contributions 137.50
Multiply by: No. of months 7
Annual Contribution 962.5
Multiply by: No. of employees 3
Total Annyal Philhealth Contribution 2887.5

Pag-ibig
Monthly Contributions 186.00
Multiply by: No. of months 7
Annual Contribution 1302
Multiply by: No. of employees 3
Total Annyal Pag-ibig Contribution 3906

13th Month Pay 9,300.00

Multiply by: No. of employees 3
Total 13th Month Pay 27900

Reference 4: Indirect Materials 2019

Tissue 3,937.50
 Paper Cups 14,280.00
Paper Bowl 31,500.00
Toot Pick 18,690.00
Total Indirect Materials Cost 68,407.50

Reference 5: Rent Expenses

Monthly rent 15,000.00
Multiply by: No. of months 7
Total Rent Expenses 105,000.00

Reference 6: Utilities Expenses 2019

Electric Consumption 13,090.70
Water Consumption 980.00
Gas Refill 4,480.00
Total Utilities Expenses 18,550.70

Reference 7: Production Tools and Implements 2019

Kitchen Knife 128.00
Mixing bowl 756.00
Chopping board 538.00
Ice cream scoop 181.75
Plastic wares 560.00
Trays 260.00
Measuring cups 179.50
Grater 239.75
Tong 516.00
Basin 218.00
Lander 229.00
Squeeze Bottle 199.50
Casserole 105.00
Total Production Tools and Implements 4,110.50

Reference 8: Production Supplies 2019

Disposable Gloves 311.50
**** Washable Hair net 1,525.00
Apron 1,239.00
Spit Guard 1,050.00
Total Production Supplies 4,125.50

Reference 9: Office Supplies 2019

BIR official receipt 1,000.00
Log book 30.04
Record book 159.50
Voucher 291.67
Ball pen 56.00
Calculator 349.00
Total Office Supplies 1,886.21

Reference 10: Cleaning Supplies 2019

Dishwasing Liquid 92.46
Scotch Brite 244.31
Broom and Dust Pan 86.92
Trash Can 175.00
XL Trash Bags 339.50
Hand Soap 238.00
Hand towel 66.50
All Purpose Rags 149.00
Floor Mop 238.88
Total Cleaning Supplies 1,630.56

Reference 11: Depreciation Expense-Equipment 2019

Double Electric Deep Fryer 4,999.75
Food Processor 4,999.75
Total Equipment 9,999.50
Divide by: Useful life in years 10
Annual Depreciation 999.95
Multiply by: Ratio of months per year 0.5833
Depreciation Expense-Equipment 583.27

Reference 12: Depreciation Expense-Furniture and Fixture 2019

Cart 25,000.00
Chairs 1,036.00
Total Furniture and Fixtures 26,036.00
Divide by: Useful life in years 20
Annual Depreciation 1301.8
Multiply by: Ratio of months per year 0.5833
Depreciation Expense-Furniture and Fixture 759.34
2020 2021 2022 2023
60.00 63.00 66.15 69.46
0.05 0.05 0.05 0.05
3 3.15 3.3075 3.472875
60.00 63.00 66.15 69.46
63.00 66.15 69.46 72.93

2020 2021 2022 2023

28.00 29.40 30.87 32.41
0.05 0.05 0.05 0.05
1.40 1.47 1.54 1.62
28.00 29.40 30.87 32.41
29.40 30.87 32.41 34.03

2020 2021 2022 2023

562.50 562.50 562.50 562.50

7 7 7 7
3937.5 3937.5 3937.5 3937.5
3 3 3 3
11812.5 11812.5 11812.5 11812.5

137.50 137.50 137.50 137.50

7 7 7 7
962.5 962.5 962.5 962.5
3 3 3 3
2887.5 2887.5 2887.5 2887.5

186.00 186.00 186.00 186.00

7 7 7 7
1302 1302 1302 1302
3 3 3 3
3906 3906 3906 3906

9,300.00 9,300.00 9,300.00 9,300.00

3 3 3 3
27900 27900 27900 27900

2020 2021 2022 2023

7087.5 7441.875 7813.96875 8204.66719
 25704 25704 25704 25704
33075 33075 33075 33075
33642 33642 33642 33642
99,508.50 99,862.88 100,234.97 100,625.67

15037.50 15075.09 15112.78 15150.56

12 12 12 12
180,450.00 180,901.13 181,353.38 181,806.76

2020 2021 2022 2023

13221.61 13353.82 13487.36 13622.23
989.80 999.70 1009.69 1019.79
4524.80 4570.05 4615.75 4661.91
18,736.21 18,923.57 19,112.80 19,303.93

2020 2021 2022 2023

- - - -
- - - -
- - - -
- 200.379375 - 220.918261
588 617.4 648.27 680.6835
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
588.00 817.78 648.27 901.60

2020 2021 2022 2023

560.7 560.7 560.7 560.7
- - - -
- - - -
- 1157.625 - 1276.28156
560.70 1,718.33 560.70 1,836.98

2020 2021 2022 2023

- - - -
54.075 56.78 59.62 62.60
167.475 175.85 184.64 193.87
 525 551.25 578.81 607.75
100.8 105.84 111.13 116.69
- - - -
847.35 889.72 934.20 980.91

2020 2021 2022 2023

166.43 166.43 166.43 166.43
439.75 439.75 439.75 439.75
- 164.27 - 181.11
- 330.75 - 364.651875
611.1 641.66 673.74 707.42
428.4 449.82 472.31 495.93
119.71 125.69 131.98 138.58
- - - -
- 451.47 - 497.75
1,765.38 2,769.84 1,884.20 2,991.61

2020 2021 2022 2023

4,999.75 4,999.75 4,999.75 4,999.75
4,999.75 4,999.75 4,999.75 4,999.75
9,999.50 9,999.50 9,999.50 9,999.50
10 10 10 10
999.95 999.95 999.95 999.95
- - - -
999.95 999.95 999.95 999.95

2020 2021 2022 2023

25,000.00 25,000.00 25,000.00 25,000.00
1,036.00 1,036.00 1,036.00 1,036.00
26,036.00 26,036.00 26,036.00 26,036.00
20 20 20 20
1301.8 1301.8 1301.8 1301.8
- - - -
1,301.80 1,301.80 1,301.80 1,301.80
 Coli & Frit Enterprise
Statement of Financial Position
As of December 31, 2019-2023
Note 2019 2020 2021
Assets
Current Assets:
Cash and Cash Equivalents 1
Inventory 2
Prepaid Rent 3
Total Current Assets

Non-current Assets:
Equipment 4
Furniture and Fixtures 5
Accumulated Depreciation- Equipment 4
Accumulated Depreciation- Furniture and Fixtures 5
Total Non-current Assets
Total Assets

Liabilities and Partner's Equity

Current Liabilities:
Employee Benefits Payable 6
Income Tax Payable 7
Utilities Payable 8
Total Liabilities

Partner's Capital: 9
Docallas, Capital
Pasiliao, Capital
Tan, Capital
Total Parner's Capital
2022 2023
Note 1: Cash and Cash Equivalents 2019 2020 2021 2022
Cash on Hand
Cash in Bank
Petty Cash Fund
Total Cash and Cash Equivalents

Note 2: Finished Goods Inventory 2019 2020 2021 2022

Product 1:
Servings Produced per Day 50 55 61 67
Multiply by: Cost per unit 28.00 28.00 29.40 30.87
Total Sales of Product 1 1,400.00 1,540.00 1,778.70 2,054.40

Product 2: 2019 2020 2021 2022

Servings Produced per Day 50 55 61 67
Multiply by: Cost per unit 28.00 28.00 29.40 30.87
Total Sales of Product 2 1,400.00 1,540.00 1,778.70 2,054.40

Total Finished Goods of Product 1 1,400.00 1,540.00 1,778.70 2,054.40

Total Finished Goods of Product 2 1,400.00 1,540.00 1,778.70 2,054.40
Inventory 2,800.00 3,080.00 3,557.40 4,108.80

Note 3: Prepaid Rent 2019 2020 2021 2022

One Month Deposit 25,000.00 25,062.50 25,125.16 25,187.97
Total Prepaid Rent 25,000.00 25,062.50 25,125.16 25,187.97

Note 4: Equipment 2019 2020 2021 2022

Book Value
Less: Depreciation
Total Equipment

Note 5: Furniture and Fixtures 2019 2020 2021 2022

Book Value
Less: Depreciation
Total Furniture and Fixtures

Note 6: Employee Benefits 2019 2020 2021 2022

SSS
Pag-ibig
Philhealth
Total Employee Benefits Payable

Note 7: Income Tax Payable 2019 2020 2021 2022

Income Tax
Divided by: ….
Total Income Tax Payable

Note 8: Utilities Payable 2019 2020 2021 2022

Electric Consumption
Water Consumption
Gas Refill
Total Utilities Payable

Note 9: Equity 2019 2020 2021 2022

Docallas, Capital
Pasiliao, Capital
Tan, Capital
Total Equity
 2023

2023

73
32.41
2,372.83

2023
73
32.41
2,372.83

2,372.83
2,372.83
4,745.66

2023
25,250.94
25,250.94

2023

2023

2023

2023
2023

2023
 Coli & Frit Enterprises
Projected Statement of Changes in Equity
For the Year Ended December 31, 2019-2023
2019 2020 2021 2022 2023
Beginning, Capital
Add: Net Income
Total
Less: Drawings
Total Partner's Capital
Docallas, Capital
Add: Share in Net Income
Total
Less: Drawings
Docallas, Capital End
Pasiliao, Capital
Add: Share in Net Income
Total
Less: Drawings
Pasiliao, Capital End
Tan, Capital
Add: Share in Net Income
Total
Less: Drawings
Tan, Capital End
 Coli & Frit Enterprise
Statement of Cash Flow
For The Year Ended December
2019 2020 2021 2022
Cash Flow from Operating Activities:
Net Income
Depreciation Expense-Equipment
Depreciation Expense-Furniture and Fixtures
Increase in Inventories
Decrease in Prepaid Rent
Increase in Tax Payable
Increase in Employee's Benefit Payable
Net Cash Provided form Operating Activities

Cash Flow from Investing Activities

Purchase of Equipment
Purchase of Furniture and Fixtures
Net Cash Provided by Investing Activities

Cash Flow from Financing Activities

Partner's Contribution
Withdrawals
Net Cash Provided by Financing Activities

Net increase(decrease) in cash

Add: Cash Beginning
Net Cash, Ending
2023